Bill Text: CA SB594 | 2017-2018 | Regular Session | Introduced

California Senate Bill 594 (Prior Session Legislation)

NOTE: There are more recent revisions of this legislation. Read Latest Draft

Bill Title: Flood risk: dam failure: expedited permit processing and approval: human life safety protection.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2018-02-01 - Returned to Secretary of Senate pursuant to Joint Rule 56. [SB594 Detail]

Download: California-2017-SB594-Introduced.html

CALIFORNIA LEGISLATURE— 2017–2018 REGULAR SESSION

Senate Bill

No. 594

Introduced by Senator Beall

February 17, 2017

An act to amend Section 2100 of the Streets and Highways Code, relating to transportation.

LEGISLATIVE COUNSEL'S DIGEST

SB 594, as introduced, Beall. Highway Users Tax Account.

Existing law authorizes the Controller to use the funds in the Highway Users Tax Account in the Transportation Tax Fund for cashflow loans to the General Fund.

This bill would make nonsubtantive changes to these provisions.

Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NO

The people of the State of California do enact as follows:

SECTION 1.

Section 2100 of the Streets and Highways Code is amended to read:

2100.

(a) The Highway Users Tax Fund is continued in existence as the Highway Users Tax Account in the Transportation Tax Fund. Any reference in any law or regulation to the Highway Users Tax Fund shall be deemed to refer to the Highway Users Tax Account in the Transportation Tax Fund.

~~Any reference in any law or regulation to the Highway Users Tax Fund shall be deemed to refer to the Highway Users Tax Account in the Transportation Tax Fund.~~
~~Notwithstanding~~

(b) Notwithstanding any other ~~provision of~~ law, the Controller may use the funds in the Highway Users Tax Account in the Transportation Tax Fund for cashflow loans to the General Fund as provided in Sections 16310 and 16381 of the Government Code. ~~Any such~~ This loan shall be exempt from paragraph (2) of subdivision (b) of Section 16310 of the Government Code. Interest shall be paid on all moneys loaned to the General Fund and shall be computed at a rate determined by the Pooled Money Investment Board to be the current earning rate of the fund from which the money is loaned. This subdivision does not authorize any transfer that would interfere with the carrying out of the object for which these funds were created.